ACUITE A4+ | Reaffirmed | Issuer not co-operating*
RBI
Total Outstanding
0.00
23.00
-
-
-
Total Withdrawn
0.00
0.00
-
-
-
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Rating Rationale
Acuite has downgraded its long-term rating to 'ACUITE BB' (read as ACUITE double B) from 'ACUITE BB+' (read as ACUITE double B plus) on the Rs.6.73 Cr. bank facilities and reaffirmed its short-term rating of ‘ACUITE A4+’ (read as ACUITE A four plus) on the Rs.16.27 Cr. bank facilities of P K Construction Shimla Private Limited (PKCSPL). The rating is now flagged as “Issuer Not Cooperating” and is based on the best available information .
About the Company
P K Construction Shimla Private Limited (PKCSPL), was established as a proprietorship concern in 1984 and reconstituted as a private limited company in 2016. The company is promoted by Mr. Pramod Kumar Sood and family. PKCSPL undertakes civil construction work and develops roads and bridges for government departments in Himachal Pradesh.
Unsupported Rating
Not Applicable
Non-cooperation by the issuer/borrower
Acuité has been requesting for data, information and undertakings from the rated entity for conducting surveillance & review of the rating. However, the issuer/borrower failed to submit such information before the due date. Acuité believes that information risk is a critical component in such ratings, and noncooperation by the issuer along with unwillingness to provide information could be a sign of potential deterioration in its overall credit quality. This rating is therefore being flagged as “Issuer not cooperating”, in line with prevailing SEBI regulations and Acuité’s policies.
Limitation regarding information availability
Rating Sensitivities
Potential triggers (individual or collective) for an upward rating action:
No information provided by the issuer / available for Acuite to comment upon.
Potential triggers (individual or collective) for a downward rating action:
No information provided by the issuer / available for Acuite to comment upon.
Liquidity Position
No information provided by the issuer / available for Acuite to comment upon.
ACUITE BB+ | Stable
(Downgraded from ACUITE BBB- | Negative)
Covid Emergency Line.
Long Term
0.23
ACUITE BB+ | Stable
(Downgraded from ACUITE BBB- | Negative)
29 Dec 2023
Bank Guarantee (BLR)
Short Term
12.75
ACUITE A3
(Reaffirmed)
Proposed Short Term Bank Facility
Short Term
3.20
ACUITE A3
(Reaffirmed)
Cash Credit
Long Term
6.50
ACUITE BBB- | Negative
(Reaffirmed)
Term Loan
Long Term
0.55
ACUITE BBB- | Negative
(Reaffirmed)
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
State Bank of India
Not avl. / Not appl.
Bank Guarantee (BLR)
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
12.75
Simple
ACUITE A4+ | Reaffirmed | Issuer not co-operating*
State Bank of India
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
6.50
Simple
ACUITE BB | Downgraded | Issuer not co-operating* ( from ACUITE BB+ )
State Bank of India
Not avl. / Not appl.
Covid Emergency Line.
Unlisted
RBI
25 Nov 2021
Not avl. / Not appl.
25 Nov 2026
0.23
Simple
ACUITE BB | Downgraded | Issuer not co-operating* ( from ACUITE BB+ )
Not Applicable
Not avl. / Not appl.
Proposed Short Term Bank Facility
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
3.52
Simple
ACUITE A4+ | Reaffirmed | Issuer not co-operating*
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
